Banco Bradesco S.A. (NYSE:BBD) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 15.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 268,358 shares of the bank’s stock after purchasing an additional 36,542 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Banco Bradesco were worth $510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBD. ARGA Investment Management LP increased its position in Banco Bradesco by 215.1% during the 4th quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock worth $158,224,000 after purchasing an additional 56,552,808 shares during the period. Massachusetts Financial Services Co. MA increased its position in Banco Bradesco by 170.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after purchasing an additional 55,444,555 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Banco Bradesco during the 3rd quarter worth approximately $104,542,000. Itau Unibanco Holding S.A. increased its position in Banco Bradesco by 56.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after purchasing an additional 13,627,768 shares during the period. Finally, Fisher Asset Management LLC increased its position in Banco Bradesco by 19.2% during the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after purchasing an additional 12,228,662 shares during the period.

Wall Street Analysts Forecast Growth

BBD has been the topic of a number of research reports. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group cut Banco Bradesco from a “buy” rating to a “sell” rating and lowered their price target for the stock from $2.40 to $2.00 in a report on Wednesday.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $2.09 on Thursday. The business’s fifty day moving average price is $1.99 and its two-hundred day moving average price is $2.38. The stock has a market cap of $22.24 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 0.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. Banco Bradesco S.A. has a one year low of $1.84 and a one year high of $2.98.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. On average, analysts forecast that Banco Bradesco S.A. will post 0.33 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.0033 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is 11.54%.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.